Oregon Public Employees Retirement Fund lifted its stake in Macy’s Inc (NYSE:M) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 218,432 shares of the company’s stock after buying an additional 2,149 shares during the period. Oregon Public Employees Retirement Fund owned about 0.07% of Macy’s worth $7,586,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Macy’s by 4.9% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock valued at $1,081,000 after buying an additional 1,337 shares during the period. Whittier Trust Co. lifted its stake in Macy’s by 21.1% during the second quarter. Whittier Trust Co. now owns 7,966 shares of the company’s stock worth $462,000 after purchasing an additional 1,390 shares during the period. Amalgamated Bank lifted its stake in Macy’s by 3.7% during the second quarter. Amalgamated Bank now owns 39,333 shares of the company’s stock worth $1,472,000 after purchasing an additional 1,402 shares during the period. Nwam LLC lifted its stake in Macy’s by 19.9% during the third quarter. Nwam LLC now owns 9,470 shares of the company’s stock worth $329,000 after purchasing an additional 1,572 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its stake in Macy’s by 2.3% during the second quarter. Crossmark Global Holdings Inc. now owns 72,053 shares of the company’s stock worth $2,697,000 after purchasing an additional 1,609 shares during the period. Institutional investors and hedge funds own 90.68% of the company’s stock.
NYSE M opened at $34.59 on Friday. The company has a market cap of $10.97 billion, a PE ratio of 9.18, a PEG ratio of 1.07 and a beta of 0.71. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.43. Macy’s Inc has a 1-year low of $17.41 and a 1-year high of $41.99.
Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.20. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.55 billion. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. Equities analysts predict that Macy’s Inc will post 3.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Thursday, December 13th. Macy’s’s payout ratio is 40.05%.
A number of research analysts have commented on M shares. Zacks Investment Research upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Wednesday, July 18th. Standpoint Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Morgan Stanley raised their price target on shares of Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Thursday, August 16th. Royal Bank of Canada set a $39.00 price target on shares of Macy’s and gave the stock a “hold” rating in a research note on Thursday, August 16th. Finally, Deutsche Bank raised their price target on shares of Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $34.37.
In related news, President Harry A. Lawton III sold 28,684 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $36.05, for a total value of $1,034,058.20. Following the completion of the sale, the president now owns 54,722 shares of the company’s stock, valued at $1,972,728.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William H. Lenehan purchased 2,092 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was bought at an average cost of $35.78 per share, with a total value of $74,851.76. Following the acquisition, the director now owns 8,060 shares of the company’s stock, valued at $288,386.80. The disclosure for this purchase can be found here. Company insiders own 2.36% of the company’s stock.
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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